Cool Planet, a Greenwood Village, Colo.-based agtech company, closed on $19.3m in Series A financing and note conversion.
This round was led by Agustín Coppel and North Bridge Venture Partners.
The company, which has raised nearly $30m in the last 18 months, intends to use the funds to commercialize its Cool Terra and Cool Fauna engineered biocarbon products.
Founded in 2009 and led by President and CEO Jim Loar, Cool Planet provides Cool Terra, which can improve agricultural crop yields while providing substantial environmental benefit in the form of sequestering carbon and improving soil health, and Cool Fauna, a product with potential in animal health and nutrition applications.
The company’s biomass conversion technology can be further enhanced to produce hydrocarbon based renewable transportation fuels, including gasoline, jet fuel and diesel. Cool Fuels are chemically identical to those produced from crude oil but, unlike fossil fuels, they are a renewable, clean source of energy.
Cool Planet serves players across agriculture, landscape, turf, nursery and ornamental markets.